Bel Fuse (NASDAQ:BELFB) Stock Keeps Buy Rating at Needham & Company LLC

Key Points

• Needham & Company reaffirmed its “buy” rating on Bel Fuse and set a $300 price target, implying approximately 27.3% upside from the stock’s $235.73 price. Analysts overall maintain a “Moderate Buy” consensus with a $315.67 average target.
• Bel Fuse’s latest quarterly results were mixed: earnings of $1.83 per share missed the $2.72 consensus estimate, while revenue of $220.51 million exceeded expectations of $215.74 million.
• Institutional investors own 58.39% of Bel Fuse, with several hedge funds increasing their positions, while company insiders sold 1,893 shares worth approximately $476,949 over the past 90 days.

Bel Fuse (NASDAQ:BELFB - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $300.00 target price on the electronics maker's stock. Needham & Company LLC's price objective would suggest a potential upside of 27.26% from the company's current price.

BELFB has been the topic of several other research reports. Wall Street Zen upgraded shares of Bel Fuse from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research raised Bel Fuse from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 14th. Northland Securities set a $326.00 target price on Bel Fuse in a research report on Friday, July 31st. JPMorgan Chase & Co. cut their target price on Bel Fuse from $380.00 to $330.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Finally, Citigroup began coverage on Bel Fuse in a research report on Monday, July 13th. They set a "buy" rating for the company. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $315.67.

Bel Fuse Price Performance

Shares of BELFB opened at $235.73 on Friday. Bel Fuse has a 12 month low of $129.94 and a 12 month high of $335.29. The stock has a fifty day moving average price of $239.54 and a 200 day moving average price of $247.49. The company has a market cap of $3.40 billion, a P/E ratio of 54.23, a PEG ratio of 2.46 and a beta of 1.67.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $1.83 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.89). Bel Fuse had a return on equity of 9.76% and a net margin of 7.34%. The firm had revenue of $220.51 million for the quarter, compared to the consensus estimate of $215.74 million. As a group, research analysts anticipate that Bel Fuse will post 6.89 earnings per share for the current year.

Insider Buying and Selling at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of Bel Fuse stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the transaction, the director directly owned 750 shares of the company's stock, valued at $219,090. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vincent Vellucci sold 1,000 shares of the business's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $235.15, for a total transaction of $235,150.00. Following the completion of the sale, the director owned 7,434 shares in the company, valued at approximately $1,748,105.10. This trade represents a 11.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,893 shares of company stock valued at $476,949. Insiders own 5.37% of the company's stock.

Institutional Investors Weigh In On Bel Fuse

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Bel Fuse by 22.7% during the first quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker's stock valued at $150,587,000 after buying an additional 140,804 shares in the last quarter. Wasatch Advisors LP lifted its stake in Bel Fuse by 2.2% in the 2nd quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker's stock worth $162,994,000 after acquiring an additional 10,705 shares in the last quarter. Congress Asset Management Co. purchased a new position in Bel Fuse during the 3rd quarter valued at about $63,101,000. Dimensional Fund Advisors LP grew its stake in Bel Fuse by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 256,833 shares of the electronics maker's stock valued at $50,851,000 after acquiring an additional 1,992 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Bel Fuse by 49.4% in the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker's stock valued at $70,540,000 after purchasing an additional 70,014 shares during the period. Hedge funds and other institutional investors own 58.39% of the company's stock.

About Bel Fuse

Bel Fuse Inc is a designer, manufacturer and supplier of products that power, protect and connect electronic circuits. The company's portfolio includes circuit protection devices, magnetic components, interconnect products, power supplies, power conversion solutions and discrete components used in electronic equipment and systems.

Bel Fuse serves customers in industries including telecommunications, networking, computing, industrial equipment, consumer electronics, automotive, medical technology, aerospace and defense.

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